News - Page 3 of 9 - Affordable Housing Investment Brokerage

Western Illinois HAP Sale

AHIB recently completed a full HAP sale in Western Illinois. Fieldcrest Apartments includes forty-one apartments operating under one HAP contract at two different sites in Western Illinois, specifically in the cities of Orion and Cambridge. The two locations are located approximately twelve miles apart and fourteen miles from the Quad Cities MSA. All units are reserved for independent seniors or disabled individuals. Fieldcrest was owned by long-term investors who have made numerous improvements to the properties, leaving [...]

Full HAP coverage-New York-Briarwood MEadows

Full HAP Coverage in New York

Briarwood Meadow Apartments is a thirty-three unit apartment community with full HAP coverage from a project-based Section 8 contract. The community is in Black River, just outside of Watertown, New York. Watertown is the county seat of Jefferson County with a population just under one hundred ten thousand residents. The property has undergone significant physical renovations in recent years and has current rents that trail the market. Contract rents are both below comparable properties in the market, and HUD [...]

September 7, 2021 By Kyle Shoemaker Sell HAP Contract Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

Midwest Multifamily & Affordable Housing Business

The Multifamily & Affordable Housing Business regional magazine covers the full spectrum of news and trends analysis in the multifamily, affordable and workforce housing sector. The July/August edition of Midwest Multifamily & Affordable Housing Business features AHIB Managing Director Kyle Shoemaker in the following cover story: “Why Investors are Flocking to Multifamily.” The stability of both market-rate and affordable housing — even during a pandemic — is driving sales amid a push for portfolio diversification. You can [...]

August 20, 2021 By Kyle Shoemaker News Comments Off

LIHTC Award - Summit Garden-Jonestown Mississippi

9% LIHTC Award

Affordable Housing Investment Brokerage, Inc. represented the seller of the 65-unit Summit Garden Apartments in Jonestown, Mississippi. All the units of the multifamily property are covered by a Project-Based Section 8 HAP Contract that was entered in 2011 through the HUD Office of Housing Property Disposition. AHIB represented Summit Corporations in the sale of the Summit Garden Apartments to Hughes Spelling. The buyer received a 9% LIHTC award to complete the acquisition and renovation. Multiple offers were procured on [...]

July 9, 2021 By Kyle Shoemaker Sell HAP Contract Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

Riverwalk senior-120-unit LIHTC-Lyons Illinois

120-unit LIHTC Community Outside Chicago

(June 30, 2021) – Affordable Housing Investment Brokerage Inc. (AHIB) recently sold a 120-unit independent senior living community in Lyons, Illinois for $8,800,000. Riverwalk sold for over list price with multiple offers procured. Managing Director Kyle Shoemaker represented the seller, Barron Development LLC, and buyer to complete the transaction. Riverwalk is a 120-unit, six-floor complex 15 miles outside Chicago, Illinois. Built in 2003, the community is located in Lyons at the corner of Ogden and Joliet avenues, within close proximity to [...]

June 30, 2021 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Tax Credit Property Comments Off

Senior HAP Sale in Wichita

On June 17, 2021, AHIB completed the sale of Greenway Park, a 91-unit Senior HAP complex. Built in 1979, Greenway Park is a Project-Based Section 8 Senior and Disabled property consisting of one 3-story building containing 91 one-bedroom apartment homes on 3.25 acres. Greenway Park is located at 404 W. Pawnee Avenue just minutes from downtown Wichita. The property is one of a very few competing properties for affordable, independent senior apartment options in the area. This Senior HAP project [...]

June 17, 2021 By Kyle Shoemaker Sell HAP Contract Property, Sell Section 8 Property, Sell Subsidized Property Comments Off

Florida Project-Based Section 8 Sale

In February, 2021, AHIB closed on the Florida project-based section 8 sale known as Baker Manor. Located in Macclenny, Florida, Baker Manor is located within the Jacksonville, Florida MSA. The property was originally constructed around 1974 and was renovated in 1997 using State Apartment Incentive Loan (SAIL) funds. The garden style apartments consist of one-bedroom, two-bedroom and three bedroom units. Property amenities include a playground, a pool, laundry facility and a community room. Baker Manor Apartments is fully-covered by [...]

March 1, 2021 By Kyle Shoemaker Sell HAP Contract Property, Sell Section 8 Property Comments Off

Levy House in the Media

Affordable Housing Investment Brokerage (AHIB) is pleased to announce that Levy House, located at 1221 W. Sherwin Ave. in Chicago’s East Rogers Park neighborhood, has sold for $8.1 million. We are grateful for the coverage from multiple top-notch real estate media sites. Please see below for some of the coverage: Affordable Housing Investment Brokerage advises on Levy House sale POAH Makes Acquisition in East Rogers Park Affordable Housing Investment Brokerage Arranges $8.1M Sale of Levy House in Chicago http://www.multifamilypress.com/categories/property-acquisitions/2860-affordable-housing-investment-brokerage-advises-on-levy-house-sale https://www.instagram.com/p/CKWsFTPrI_O/?utm_source=ig_web_copy_link https://www.multifamilybiz.com/pressreleases/12702/affordable_housing_investment_brokerage_advises_on

January 21, 2021 By Kyle Shoemaker News Comments Off

POAH (Preservation of Affordable Housing) Preserves Chicago Property with AHIB

Affordable Housing Investment Brokerage (AHIB) is pleased to announce that Levy House in Chicago has sold for $8,100,000. Located at 1221 W. Sherwin Ave, Levy House is well placed in Chicago’s East Rogers Park neighborhood. Kyle Shoemaker, Managing Director of AHIB represented the buyer, Preservation of Affordable Housing (POAH), and seller, a non-for-profit. Levy House is a 57-unit, seven-story apartment building that offers one-bedroom, one-bathroom floor plans. The property operates as elderly housing and Preservation of Affordable Housing plans to [...]

January 19, 2021 By Kyle Shoemaker News Comments Off

Senior LIHTC Sale in Kansas City

Closing out 2020, AHIB closed on a Senior LIHTC Sale in Kansas City. The Cottages of Belton and Cottages of Kansas City East offer a total of 180 affordable units specifically designated for those 55 and older. Both properties were built and placed-in-service in 1996 using Low Income Housing Tax Credits. Both sites are well-maintained and stabilized with an extensive waitlist. Cottages of Belton and Cottages of Kansas City East are approximately twenty miles from each other and offer [...]

January 4, 2021 By Kyle Shoemaker Sell LIHTC Property, Sell Section 42 Property, Sell Tax Credit Property Comments Off